News Snapshot:
JD.com has completed a business reorganisation that transfers the e-commerce giant’s cloud computing and artificial intelligence operations as well as other assets worth 15.7 billion yuan (US$2.4 billion) to fintech unit JD Technology, whose plans to go public in Shanghai appear to be on hold. The transaction increases JD.com’s equity stake in JD Technology, previously known as JD Digits and JD Finance, to 42 per cent from 36.8 per cent, according to the Beijing-based company’s filing with the US Securities and Exchange Commission (SEC) on Wednesday. It expected JD Technology to be “better positioned to deliver a suite of cutting-edge...
